By Susanna Moon
Chicago, Jan. 30 – JPMorgan Chase Financial Co. LLC priced $515,000 of callable contingent interest notes due Jan. 25, 2022 linked to the lesser performing of the Financial Select Sector SPDR fund, the SPDR S&P Oil & Gas Exploration & Production ETF and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannually coupon at an annual rate of 15% if each fund closes at or above its 70% coupon barrier on the review date for that period.
The notes are callable at par on any interest payment date other than the final date.
The payout at maturity will be par unless any fund finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing fund.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying funds: | Financial Select Sector SPDR fund, SPDR S&P Oil & Gas Exploration & Production ETF and Technology Select Sector SPDR fund
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| Amount: | $515,000
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| Maturity: | Jan. 25, 2022
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| Coupon: | 15% annualized, payable semiannually if each fund closes at or above 70% coupon barrier on review date for that period
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| Price: | Par
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| Call option: | At par on any interest payment date other than final date
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| Payout at maturity: | Par unless any fund closes below 70% trigger, in which case 1% loss for each 1% decline of worst performing fund
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| Initial levels: | $26.00 for financial fund, $31.61 for oil fund and $65.35 for tech fund
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| Trigger levels: | $18.20 for financial fund, $22.127 for oil fund and $45.745 for tech fund, 70% of initial levels
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48130WRU7
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